Tuesday, October 2, 2007 at 06:45 EDT
TOKYO — Police plan to raid the head office and the homes of managers of Tokyo-based bedding supplier L&G on suspicion that the company collected money from investors across Japan by declaring that it paid high dividends in violation of the investment law, investigative sources said Monday.
Based in Tokyo's Shinjuku Ward, the firm, which claims to supply products for health purposes, is said to have collected more than 100 billion yen from about 50,000 people nationwide. But the company is believed to be virtually bankrupt, the sources said.
Kyodo News
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